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melissa: turning it another story, superstorm sandy, the relief bill. it will be a top prooirt in the new 113th congress which begins today. they are blastings their own party from newly reelected speaker john boehner on down for failure to pass the package. critics say it is stuffed with pork and a lot of taxpayer money is going up in smoke. with me from one of the states hit the hardest, new york congresswoman carolyn maloney. congresswoman, thanks so much for joining me. i want to get right to it here because i know you have a very busy day there. threat's -- let's talk -- >> we sworn in and elected leadership and should have passed sandy last year. good to be with you today, melissa. melissa: one of the reasons and issues it didn't pass a lot of people were concerned what they saw as pork in there. for example, there are $60 million set aside for the epa to support climate change issues. do you think that this is the right time to tackle something like that? i mean we don't even know where this money is necessarily going when you have so many people
melissa: turning it another story, superstorm sandy, the relief bill. it will be a top prooirt in the new 113th congress which begins today. they are blastings their own party from newly reelected speaker john boehner on down for failure to pass the package. critics say it is stuffed with pork and a lot of taxpayer money is going up in smoke. with me from one of the states hit the hardest, new york congresswoman carolyn maloney. congresswoman, thanks so much for joining me. i want to get right...
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so blame superstorm sandy. if it is worse than everyone is predicting then perhaps you could blame the fiscal cliff. lori: i think adam might take you out for glass wine after the show. >> we could drink. tracy: we should go shop first, really good sales. >> probably line. there are good sales online. tracy: learn so much about your colleagues. love it. lori: so what happens to america's credit rating if we do go over the fiscal cliff? you will recall last year's debt ceiling debacle resulted in standard & poor's stripping the u.s. of its top rating and now fitch is warning of a possible review. joining us now to discuss this possibility and the ramification senior editor with "the national review" and former campaign manager for dick gephardt's presidential campaign. welcome to you both. ramesh i begin with you. one. topics lost in the shuffle in the fiscal cliff negotiation we're perilously close to running up against the debt ceiling again. what do you think should happen with the debt ceiling? are you reall
so blame superstorm sandy. if it is worse than everyone is predicting then perhaps you could blame the fiscal cliff. lori: i think adam might take you out for glass wine after the show. >> we could drink. tracy: we should go shop first, really good sales. >> probably line. there are good sales online. tracy: learn so much about your colleagues. love it. lori: so what happens to america's credit rating if we do go over the fiscal cliff? you will recall last year's debt ceiling...
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Dec 26, 2012
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giving you a lot of reasons for this most of which they seem to believe was superstorm sandy that hit the big shopping areas and 5 lot of the big -- a lot of the big population centers on the east coast, and people there in new york, new england did not shop, and that was sufficient enough to bring down the numbers nationwide. there was a built of a rebound prior to christmas, but not enough to put us back on track for what the national retail federation says is their prediction for the holiday shopping season. 4.1% growth over last year, $586 billion season, but others say, no, nrf is off, and, in fact, shopper trek on monday revised from 3.3% to 2.5% growth. expect to see big sales, especially when you consider, nrf says, i think, that retailers make anywhere from 20% to 40% of revenue in the holiday shopping season, could be bad news for a lot of people. ashley: could indeed. adam, thank you very much. >> yep. ashley: there's a holiday hangover today, no doubt about, that but they have to help customers know when a sale is a sale. scott, bbc capital markets retail analyst joining m
giving you a lot of reasons for this most of which they seem to believe was superstorm sandy that hit the big shopping areas and 5 lot of the big -- a lot of the big population centers on the east coast, and people there in new york, new england did not shop, and that was sufficient enough to bring down the numbers nationwide. there was a built of a rebound prior to christmas, but not enough to put us back on track for what the national retail federation says is their prediction for the holiday...
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Dec 27, 2012
12/12
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sandy. >> right. adam: at the end. day are consumers pulling back? doesn't matter if it was the storm or fear they're pulling back, right. >> that was a real good point you made. mastercard said this these numbers were becoming a concern for the consumer back in october. the national retail federation had projected holiday sales would go up about 4.1%. adam: yep. >> that is some growth but it is nowhere near the 5.6% we saw lt year. there is a little bit of a slowdown. also we have to look at the consumer sentiment numbers. it is coming in at the month of december around 72 points. that is 10 points less than at its high in july. so we're definitely seeing that consumer slowdown happen even way before the fourth quarter. adam: you're with therf. you're with the national retail federation, are you not. >> no. i'm an independent analyst. adam: excuse me. a lot of people like the nrf but what are the repercussions whether for the nrf or anybody? nrf, they're sticking to it. they're not revising their pre
sandy. >> right. adam: at the end. day are consumers pulling back? doesn't matter if it was the storm or fear they're pulling back, right. >> that was a real good point you made. mastercard said this these numbers were becoming a concern for the consumer back in october. the national retail federation had projected holiday sales would go up about 4.1%. adam: yep. >> that is some growth but it is nowhere near the 5.6% we saw lt year. there is a little bit of a slowdown. also we...
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the idea that we're sitting here over two months from superstorm sandy and it is occurring to both democrats and republicans they might get an aid bill passed? this is the kind of nonsense that has got to end, these desperate, last-minute urgent measures. oh, yes, the president wants to come back and do a little more of that. he wants to do that with immigration reform. people should by now be getting wise to and sick of obama your againsy, which really means procrastinate to the last moment, set it up so that somethings had to be done before you think, before you read, know, understand, contemplate or a have a vision of the future trying to construct at a legislature. no one has the guts in that town, republican or democrat to tell the president to go to hell. melissa: it is really painful job. talk about service to your country originally what a politician was about going to in to help serve your community. >> which one much these men or women, put this in context right now, which one of these men or women serving in the senates senate or the house of representatives has sacrificed much af
the idea that we're sitting here over two months from superstorm sandy and it is occurring to both democrats and republicans they might get an aid bill passed? this is the kind of nonsense that has got to end, these desperate, last-minute urgent measures. oh, yes, the president wants to come back and do a little more of that. he wants to do that with immigration reform. people should by now be getting wise to and sick of obama your againsy, which really means procrastinate to the last moment,...
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superstorm sandy destroyed 72,000 homes, but congress failed to act on the recovery bill there. the senate approved a 60 million dollar measure friday, the house did not vote on it. both republicans and democrats from the northeast especially, they're not happy with it. here is new york congressman michael grimm. >> and lost family members and now, i have to go home and tell them their new years gift they're going to wait even longer, even longer for something they should have had over a month ago. stuart: okay, fair point, but look, we've got to point out that the senate bill was loaded with pork, help for alaska's the vote was not taken on the sandy relief measure. you remember the newspaper that published the names of gun owners in new york counties? those gun owners were outraged. now, you won't believe how that newspaper is responding. that will be new at 10. and also, the top of the hour, the n.r.a. calls for armed guards in every school and now one town in new jersey, following through with its plans to put guns in schools starting today. back to nicole, we've got the dow
superstorm sandy destroyed 72,000 homes, but congress failed to act on the recovery bill there. the senate approved a 60 million dollar measure friday, the house did not vote on it. both republicans and democrats from the northeast especially, they're not happy with it. here is new york congressman michael grimm. >> and lost family members and now, i have to go home and tell them their new years gift they're going to wait even longer, even longer for something they should have had over a...
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Dec 26, 2012
12/12
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superstorm sandy hid the regions of the country where we saw the biggest dropoff in spending in that period between october 28th and dec. 20 fourth. there were some rebounds. shopping came back in the last part of holiday shopping season until christmas eve but it was not sufficient to get back on track to what everyone expected. dennis: thank you. with weaker than expected retail numbers we will be heading into a recession next year. shibani: jim laventhol says in many ways yes, but it won't be a disaster. welcome to the show. you heard what adam said, that the consumer which accounts for 70% of the gdp, spending, they are pulling back and pulled back this year and during holiday shopping season. how close are we to start getting into this talk of getting into recession again? >> we're pretty close by i appreciate your pudding a qualifier that we don't have to go into a panic. there are a couple reasons for that. if you look at the stock market which is mainly where people place risk bets on growing their assets it is arguably fairly priced, somewhere between 13 times and 14 times t
superstorm sandy hid the regions of the country where we saw the biggest dropoff in spending in that period between october 28th and dec. 20 fourth. there were some rebounds. shopping came back in the last part of holiday shopping season until christmas eve but it was not sufficient to get back on track to what everyone expected. dennis: thank you. with weaker than expected retail numbers we will be heading into a recession next year. shibani: jim laventhol says in many ways yes, but it won't...